Baird Financial Group Inc. Makes New $1.73 Million Investment in MDA Space Ltd. $MDA

Key Points

• Baird Financial Group purchased 41,916 shares of MDA Space in the second quarter, representing a new position valued at approximately $1.73 million. Other institutions, including VanECK, TD Waterhouse Canada and Allianz, also established or increased positions.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $50.00. Recent coverage included “buy” and “outperform” ratings from Deutsche Bank and RBC.
• MDA Space exceeded quarterly expectations, reporting $0.26 in EPS versus a $0.24 estimate and revenue of $360.18 million versus a $321.87 million consensus forecast. The stock opened at $30.00, with a market capitalization of approximately $4.86 billion.

Baird Financial Group Inc. purchased a new position in shares of MDA Space Ltd. (NYSE:MDA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 41,916 shares of the company's stock, valued at approximately $1,730,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in shares of MDA Space during the second quarter worth $124,000. Allianz Asset Management GmbH bought a new stake in MDA Space in the second quarter valued at $15,665,000. Amundi grew its position in shares of MDA Space by 10.8% during the second quarter. Amundi now owns 55,138 shares of the company's stock worth $2,276,000 after acquiring an additional 5,382 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of MDA Space in the 2nd quarter worth about $28,441,000. Finally, Van ECK Associates Corp bought a new stake in MDA Space in the 2nd quarter valued at about $135,771,000.

Analyst Ratings Changes

Several research firms recently commented on MDA. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $41.00 target price on shares of MDA Space in a research note on Monday, August 10th. Zacks Research upgraded MDA Space from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 11th. Weiss Ratings cut shares of MDA Space from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $60.00 price objective on shares of MDA Space in a report on Monday, August 17th. Finally, National Bank Financial started coverage on MDA Space in a research note on Monday. They set an "outperform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

MDA Space Stock Performance

MDA opened at $30.00 on Friday. MDA Space Ltd. has a 52-week low of $23.23 and a 52-week high of $49.37. The company has a quick ratio of 0.72, a current ratio of 0.75 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $4.86 billion and a price-to-earnings ratio of 55.56. The stock's 50-day moving average is $31.11.

MDA Space (NYSE:MDA - Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $360.18 million during the quarter, compared to the consensus estimate of $321.87 million. MDA Space had a return on equity of 9.42% and a net margin of 5.68%. On average, research analysts forecast that MDA Space Ltd. will post 0.96 earnings per share for the current year.

About MDA Space

MDA Space Ltd. is a Canadian space technology company that develops and delivers robotics, satellite systems and geointelligence solutions for government and commercial customers. The company supports missions in low Earth orbit, lunar space and other operating environments, serving customers in Canada and international markets.

Its robotics business includes robotic arms and related systems used for space exploration and satellite servicing. MDA Space is known for its role in developing Canadarm and Canadarm2, as well as the Dextre robotic manipulator, technologies that have supported the Space Shuttle and International Space Station programs.

The company also designs and manufactures satellite platforms, payloads and communications systems, including technologies used for broadband connectivity and Earth observation.

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